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Economics

NH3 Clean Energy completes pre-FEED work for WAH2 clean ammonia project in Australia

NH3 Clean Energy announced that it completed the engineering component of its preliminary-front-end engineering and design for its WAH2 clean ammonia project in Australia.

Nigeria to block oil export permits for producers who do not fill refinery quotas

Nigeria's upstream oil regulator said on Monday it would deny export permits for oil cargoes from producers who fail to meet their stipulated supply quota to local refineries, including the Dangote Refinery, Africa's largest.

Analysis: Trump's oil tariffs a boost for European and Asian refiners

U.S. President Donald Trump's trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against their U.S. rivals, analysts and market participants said.

E-Fuel producer INERATEC receives €70-MM commitment from EIB and Breakthrough Energy Catalyst

The European Investment Bank (EIB) and Breakthrough Energy Catalyst have committed a €70-MM funding package through the EU-Catalyst Partnership to INERATEC, a Germany based e-Fuel company.

Russia's Lukoil eyes $2 B from Bulgaria refinery sale

Russia's second-largest oil producer Lukoil plans to raise around $2 B from the sale of its Burgas oil refinery in Bulgaria.

IEA comes under pressure from former oil market chief to cut energy transition focus

The International Energy Agency's former oil industry and market chief criticized the agency's focus on the global energy transition in a report released on Wednesday, and said the IEA should concentrate on oil and gas supplies.

Emerson to acquire remaining outstanding shares of AspenTech

Emerson will acquire all outstanding shares of common stock of AspenTech not already owned by Emerson for $265/share pursuant to an all-cash tender offer. The transaction values the minority stake being acquired at $7.2 B, and values the total company at a fully diluted market capitalization of $17 B with an enterprise value of $16.8 B.

Bahri, Petredec partner to meet Saudi Arabia’s growing LPG and ammonia shipping needs

Bahri (The National Shipping Company of Saudi Arabia) and Petredec have agreed to form a strategic partnership aimed at addressing Saudi Arabia’s increasing LPG and ammonia shipping demands.

Lyondell begins shuttering Houston refinery (U.S.) for permanent closure

Chemicals maker LyondellBasell Industries began shuttering its 263,776-bpd Houston refinery on Monday for permanent closure. The shutdown is expected to be completed by early February.

Russia oil sanctions create different winners at different times

The crude oil market is adapting quickly to the new sanctions against Russia's shadow fleet of tankers, albeit by creating both short- and medium-term winners and losers.